Last week the TSX closed down after seeing several weeks of gains.  This was not a surprise since every week cannot be a winner.  The decline was largely and broad-based.  As an example, Royal Bank of Canada delivered more than $3 billion profit for the latest quarter, and its share fell by 1.65%, mirroring the week at the TSX.

Canadian inflation for January 2017 compared to January 2016 was 2.1%, rising from 1.6% for December 2016.  Much of the increase is attributed to the price of gasoline.

In the United States, the markets continued their upward rise.  The Trump administration set its economic growth rate goal at 3%, and, if achieved, it would be the highest growth rate since the world financial crisis in 2008.  The markets did not react negatively to the Federal Reserve’s comments that they would counteract tax cuts with interest rate increases to temper any inflation the proposed tax and regulatory cuts could cause.

In Canada, fourth-quarter Gross Domestic Product (GDP) along with a Bank of Canada monetary policy announcement will dominate releases and news.

In the U.S. Q4 GDP will also be announced along with housing data, personal income and spending levels.  The most important event this week will surround President Trump’s address to Congress on today for the first time.  Without all the details Bloomberg says “Trillions of Dollars are at Stake*https://www.bloomberg.com/news/articles/2017-02-27/trump-s-not-quite-state-of-the-union-address-risks-trillions

Do not forget, MARCH 1ST (Wednesday) is the RRSP contribution deadline.

Have a great week,




* *Any opinion expressed herein is based solely upon the author’s current analysis and interpretation of such information, is subject to change and does not necessarily represent the opinions of Harbourfront Wealth Management Inc. While we have made every attempt to ensure the information contained in this document is reliable, Harbourfront Wealth Management is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information is provided “as is,” with no guarantee of completeness, accuracy, timeliness or as to the outcome to be obtained from the use of this information, and is without warranty of any kind, express or implied.”

“I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of Harbourfront Wealth Management. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by Harbourfront Wealth Management Inc.” Disclaimer – This information transmitted is intended to provide general guidance on matters of interest for the personal use of the reader who accepts full responsibility for its use, and is not to be considered a definitive analysis of the law and factual situation of any particular individual or entity.  As such, it should not be used as a substitute for consultation with a professional accounting, tax, legal or other professional advisor.  Laws and regulations are continually changing and their application and impact can vary widely based on the specific facts involved and will vary based on the particular situation of an individual or entity. Prior to making any decision or taking any action, you should consult with a professional advisor. The information is provided with the understanding that Harbourfront Wealth Management is not herein engaged in rendering legal, accounting, tax or other professional advice.  The opinions expressed are not to be construed as a solicitation or offer to buy or sell any securities mentioned herein. Harbourfront or any of its connected or related parties may act as financial advisor or fiscal agent for certain companies mentioned herein and may receive remuneration for its services. Harbourfront Wealth Management is a member of Canadian Investor Protection Fund (CIPF).

177-B St. Mary's Rd.
Winnipeg, MB   R2H1J1

Phone Icon
The Wrap Up – Trump to address Congress |